BWXT Medical Executes Commercial Agreement with Bayer for Supply of Actinium-225 Based Products
June 27 2022 - 6:45AM
Business Wire
BWX Technologies, Inc. (NYSE: BWXT) announced today that
subsidiary BWXT Medical Ltd. has executed a commercial agreement
with Bayer AG (Bayer) to supply high-purity Actinium-225
(Ac-225).
Today’s announcement follows the agreement reached by the two
companies in September 2021. Under the terms of the commercial
agreement, Bayer will purchase high-purity Ac-225 from BWXT Medical
at pre-determined prices. The parties expect supply to commence
later this year.
Ac-225 is a highly powerful radioisotope used in targeted alpha
therapies (TATs). This emerging field combines Ac-225 with specific
tumor-seeking targeting moieties, which deliver alpha radiation
directly to tumors.
BWXT Medical is a global supplier of medical isotopes and
radiopharmaceuticals. Bayer is a global enterprise with core
competencies in the life science fields of healthcare and
nutrition.
“We are very pleased to enter into this agreement with Bayer,
one of the global leaders in the rapidly emerging field of targeted
radionuclide therapies,” said Martyn Coombs, president of BWXT
Medical. “Targeted radionuclide therapies are developed to improve
outcomes for patients with different types of cancers. We will
leverage our nuclear medicine strengths to collaborate with Bayer
over the long term.”
Forward Looking Statements
BWXT cautions that this release contains forward-looking
statements, including statements relating to expectations for the
development, production, performance, demand, timing and impact of
Ac-225. These forward-looking statements involve a number of risks
and uncertainties, including, among other things, changes in market
demand, delays in the development and automation of our production,
regulatory approvals and competitive actions. If one or more of
these or other risks materialize, actual results may vary
materially from those expressed. For a more complete discussion of
these and other risk factors, please see BWXT’s annual report on
Form 10-K for the year ended December 31, 2021 and subsequent
quarterly reports on Form 10-Q filed with the Securities and
Exchange Commission. BWXT cautions not to place undue reliance on
these forward-looking statements, which speak only as of the date
of this release, and undertakes no obligation to update or revise
any forward-looking statement, except to the extent required by
applicable law.
About BWXT
At BWX Technologies, Inc. (NYSE: BWXT), we are People Strong,
Innovation Driven. Headquartered in Lynchburg, Virginia, BWXT is a
Fortune 1000 and Defense News Top 100 manufacturing and engineering
innovator that provides safe and effective nuclear solutions for
global security, clean energy, environmental remediation, nuclear
medicine and space exploration. With approximately 6,700 employees,
BWXT has 14 major operating sites in the U.S., Canada and the U.K.
In addition, BWXT joint ventures provide management and operations
at more than a dozen U.S. Department of Energy and NASA facilities.
Follow us on Twitter at @BWXT and learn more at www.bwxt.com.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220623005692/en/
Media Contact Natalie Cutler Director, Communications
& Government Relations 519.620.5288 nacutler@bwxt.com
Investor ContactMark Kratz Vice President, Investor
Relations 980.365.4300 investors@bwxt.com
BWX Technologies (NYSE:BWXT)
Historical Stock Chart
From Aug 2024 to Sep 2024
BWX Technologies (NYSE:BWXT)
Historical Stock Chart
From Sep 2023 to Sep 2024